BXM Wealth LLC Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

BXM Wealth LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,945 shares of the financial services provider’s stock after buying an additional 245 shares during the period. JPMorgan Chase & Co. makes up approximately 1.7% of BXM Wealth LLC’s holdings, making the stock its 16th largest holding. BXM Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $1,458,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.6%

Shares of JPM opened at $288.60 on Tuesday. The firm has a market cap of $802.06 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. The company’s fifty day moving average is $271.71 and its two-hundred day moving average is $256.81. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $4.44 EPS. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on JPM. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday, July 7th. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods raised shares of JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating and set a $327.00 price objective for the company in a research note on Wednesday, July 9th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. Finally, UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $284.42.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares in the company, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 in the last 90 days. Company insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.